Neiman Marcus at the Shops at Clear Fork from CASSCO DEVELOPMENT CO.

Neiman Marcus at the Shops at Clear Fork from CASSCO DEVELOPMENT CO.

Neiman Marcus at the Shops at Clear Fork from CASSCO DEVELOPMENT CO.

Scorecard: Spring 2015

Top office, industrial, and retail leases



The Dallas-Fort Worth commercial real estate market is off to a strong start in 2015, across all sectors. The region continues to benefit from strong job and population growth, solid market fundamentals, and a diverse economic base. Here we look at the top five office, industrial, and retail leases of the past three months, with data provided by Xceligent Inc.

ON-THE-GROUND INSIGHTS

GregLangstonOFFICE:

“You cannot hide the fact that more than 300 people are moving here each day. There are more large companies looking at relocations or consolidations in this area than ever before.”

— GREG LANGSTON, Principal and Managing Director, Avison Young

 

 Bob Buell

“Expanding tenants willcontinue to absorb space,and corporations will continue to evaluate and choose North Texas as a top relocation region for their real estate needs. Let the good times roll.”

— BOB BUELL, Principal, Fults Commercial Real Estate

  

Tony CremeINDUSTRIAL:

“Current deal activity suggests that 2015 will be as strong as recent years. But speculative development won’t continue at the same pace, until the latest wave of new product hits the market and leases up.”

— TONY CREME, Vice President, Hillwood

 

 

Dawn GreinerRETAIL:

“Retail space continues to remain tight with little vacancy. Retailers are laying out smaller stores in order to reach their customers and to help reduce occupancy and overhead costs.”

— DAWN GREINER, Senior Vice President, SRS Real Estate Partners

 


DFW Office Leases Spring 2015

LARGEST OFFICE LEASES

1. GE CAPITAL

SIZE: 148,000 s.f. in Riverside Commons at 5000 Riverside Drive in Irving

TENANT REPS: Matt Heidelbaugh and Cribb Altman of Cushman & Wakefield

LANDLORD: Brookfield, represented by Johnny Johnson and Trey Smith with DTZ

DETAILS: The financial services firm is consolidating two Irving offices into space at Riverside Commons that was previously occupied by BlackBerry.

 

2. NEC NORTH AMERICA

SIZE: 119,611 s.f. at Royal Ridge V at 3929 W. John Carpenter Fwy. in Irving

TENANT REPS: Mike Wyatt and Bill McClung of Cushman & Wakefield

LANDLORD: Signature Office REIT Inc., represented by Nathan Durham and Fletcher Cordell of Transwestern

DETAILS: The tech company will move its U.S. headquarters to Royal Ridge V in December, keeping its operations within Irving.

 

3. SOUTHWEST AIRLINES

SIZE: 104,528 in Trinity Towers at 2777 N. Stemmons Fwy. in Dallas

TENANT REPS: Doug Carignan and Larry Toon of JLL

LANDLORD: GE Capital, represented by Chuck Sellers and Lauren Perry of Peloton Commercial Real Estate

DETAILS: This was a new lease for the property, following GE Capital’s $5 million renovation, which included elevator upgrades and a new fitness center and conference center.

 

4. GRAY REED & MCGRAW PC

SIZE: 58,000 s.f. in Thanksgiving Tower at 1401 Elm Street in Dallas

TENANT REP: Sanders Thompson with Transwestern

LEASING AGENT: Woods Capital, represented by Jon Altschuler, Sam Meginnis, and Mike Dement of Altshuler & Co.

DETAILS: The law firm is the largest of several tenants that recently renewed space in the 50-story downtown tower.

 

5. CEC ENTERTAINMENT INC.

SIZE: 55,257 s.f. in Westway One at 1707 Market Place Blvd. in Irving

TENANT REPS: Carl Ewert and Elysia Ragusa of JLL

LANDLORD: 1707 Market Place Boulevard Irving LLC, represented by Kurt Cherry, Brittany Ricketts, and Shea Byers with PM Realty Group


DFW Industrial Leases Spring 20115

LARGEST INDUSTRIAL LEASES

1. FERRARA CANDY CO.

SIZE: 1.1 million s.f. in Grand Lakes II in Grand Prairie

TENANT REPS: Matt Mulvihill and Nathan Lawrence with CBRE

LANDLORD: Duke Realty Corp., represented in-house by Randy Wood

DETAILS: The company, which makes, repackages, and sells a wide variety of candy, opted to ink a long-term renewal at its current home.

 

2. MI WINDOWS AND DOORS

SIZE: 401,600 s.f. in DFW Airport North Distribution Center at 1900 Lakeside Drive in Flower Mound

TENANT REPS: Blake Kendrick and Luke Davis of Stream Realty Partners

LANDLORD: Huntington Industrial Partners, represented by Cannon Green of Stream

DETAILS: The company will take full occupancy of the building once construction is complete this summer.

 

3.PENSKE LOGISTICS

SIZE: 337,500 s.f. at 730 E. Trinity Blvd. in Grand Prairie

TENANT REP: Tom McCarthy with JLL

LANDLORD: Prologis, represented by Steve Berger and Steve Koldyke with CBRE

DETAILS: The logistics company has signed on for more than half of this 588,364 s.f. building in the Great Southwest submarket.

 

4. GENCO I INC.

SIZE: 324,984 s.f. in Commerce 20 at 4951 Langdon Road in Dallas

TENANT REPS: Mark Collins and Dean Collins with Cushman & Wakefield of Texas Inc. and Brian Zurawski with Summit Realty Group

LANDLORD: Hillwood, represented inhouse by Toby Rogers and Bates Arnot, along with Dave Anderson of CBRE

DETAILS: The logistics provider leased about half of this 651,400 s.f. building near Interstate 20 and Bonnie View Road.

 

5. KUEHNE & NAGEL INC.

SIZE: 268,000 s.f. in Waters Ridge I in Lewisville

TENANT REPS: Blake Anderson and David Eseke with DTZ

LEASING AGENT: Steve Trese, CBRE

DETAILS: This 120-year-old company has evolved from a traditional freight forwarder to a global provider of fully integrated supply-chain solutions.


DFW Retail Leases Spring 2015

LARGEST RETAIL LEASES

1. KROGER MARKETPLACE

SIZE: 123,000 s.f. at Castle Hills Marketplace in Lewisville

DEVELOPER: Cencor Realty Services

LEASING AGENT: Michelle Caplan and Steve Gray of The Weitzman Group

DETAILS: Kroger continues its North Texas expansion with a new store that will anchor what’s ultimately planned to be a 400,000 s.f. retail center along State Highway 121 at Josey Lane.

 

2. NEIMAN MARCUS

SIZE: 90,000 s.f. at The Shops at Clearfork in Fort Worth

DEVELOPER: Cassco Development

TENANT REPRESENTATIVES: Jack Breard and Amy MacLaren of CBRE | UCR.

DETAILS: With its existing lease at Ridgmar Mall set to expire, the luxury retailer opted to relocate to this new 270-acre mixed-use project along the Trinity River in Fort Worth.

 

3. WHOLE FOODS

SIZE: 40,000 s.f. at CityLine in Richardson

DEVELOPER: Regency Centers

DETAILS: The grocery store will anchor the first 81,000 s.f. phase of CityLine Market, a retail center located within CityLine at Plano and Renner roads.

 

4. LA FITNESS

SIZE: 38,000 s.f. at Frisco Market Center

TENANT REPS: John Zikos and Jonathan Cooper of Venture Commercial Real Estate, and Walt Brown and Tim Dollander of Diversified Partners

LANDLORD: Hermansen Land Development, represented by Darrell Hernandez of UCR

DETAILS: The company will build a new facility within Frisco Market Center, a 100-acre development at the northwest corner of Main Street and the Dallas North Tollway in Frisco

 

5. HENNES & MAURITZ

SIZE: 31,000 s.f. at Sundance Square in Fort Worth

LANDLORD: Sundance Square, represented in-house by Bill Booker Jr.

DETAILS: This will be the seventh North Texas store for H&M, one of the world’s largest fashion retailers.